|
Report Date : |
02.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
MYSTIC BLUE
TRADING 343 (PTY)LTD |
|
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Registered Office : |
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Country : |
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|
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Date of Incorporation : |
29.03.2006 |
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Com. Reg. No.: |
2006/009339/07 |
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Legal Form : |
Private Company |
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Line of Business : |
Not Available |
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No of Employees : |
Not
Available |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
Dormant Company |
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Payment Behaviour : |
---- |
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Litigation : |
---- |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
South Africa |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
South Africa ECONOMIC OVERVIEW
South Africa is
a middle-income, emerging market with an abundant supply of natural resources; well-developed
financial, legal, communications, energy, and transport sectors and a stock
exchange that is the 16th largest in the world. Even though the country's
modern infrastructure supports a relatively efficient distribution of goods to
major urban centers throughout the region, unstable electricity supplies retard
growth. The global financial crisis reduced commodity prices and world demand.
GDP fell nearly 2% in 2009 but has recovered since then, albeit slowly with
2014 growth projected at about 2%. Unemployment, poverty, and inequality -
among the highest in the world - remain a challenge. Official unemployment is
at nearly 25% of the work force, and runs significantly higher among black
youth. Eskom, the state-run power company, has built two new power stations and
installed new power demand management programs to improve power grid
reliability. Construction delays at two additional plants, however, mean South
Africa is operating on a razor thin margin; economists judge that growth cannot
exceed 3% until those plants come on line. South Africa's economic policy has
focused on controlling inflation, however, the country has had significant
budget deficits that restrict its ability to deal with pressing economic
problems. The current government faces growing pressure from special interest
groups to use state-owned enterprises to deliver basic services to low-income
areas and to increase job growth.
|
Source : CIA |
|
Subject Name |
MYSTIC BLUE TRADING 343 (PTY)LTD |
|
Country |
South Africa |
|
Subject Contact Person |
MOHOMED SHAIK-Director |
|
Assessment |
On investigation contact was made with MOHOMED SHAIK the director who confirmed that the company is actually dormant, so no longer trading. We therefore cannot recommend any credit dealings. Please see the available CIPC and public information on the subject below. |
|
Registered Name |
MYSTIC BLUE TRADING 343 (PTY)LTD |
|
Registration Number |
2006/009339/07 |
|
Registration Date |
2006/03/29 |
|
Age of Business |
8 Years 4 Months |
|
Authorised Share Capital |
R1000.00 |
|
Issued Share Capital/Members Contribution |
R 100.00 |
|
Status |
Deregistration Process |
|
Major Industry Code / SICC |
9000 |
|
Head Office Physical Address |
182 BRICKFIELD ROAD, OVERPORT, DURBAN, 4091 |
|
Head Office Postal Address |
P O BOX 1451, DURBAN, 4000 |
|
Company Registered Name |
PKF DURBAN |
|
Postal Address |
P O BOX 1858, DURBAN, 4000 |
|
Practice Number |
906352E |
|
No of years in Business |
7 Years |
Previous Auditors Information - No Information on Record
|
Vat Number |
4480230186 |
|
Status |
ACTIVE |
|
Vat Liable Date |
2006/09/01 |
|
Tax Number |
9245211165 |
|
Financial Year End |
February |
Black Economic
Empowerment Information - No Information on Record
ISO Information - No
Information on Record
Work Mans Information
- No Information on Record
Subsidiaries
Information - No Information on Record
Employees Information
- No Information on Record
Company Fleet
Information - No Information on Record
Offices Information -
No Information on Record
Branch Information -
No Information on Record
Organisational Chart
- No Information on Record
Company Structure
Information - No Information on Record
Note: One level up and all
levels down
Key Deals - No
Information on Record
Trade References
Information - No Information on Record
Judgements - No
information on record
Business Rescue - No
Information on Record
Default Listing - No
information on record
Notarial Bonds - No
information on record
Bank Information - No
Information on Record
Bank Code History -
No Information on Record
Previous Bank Account
Information - No Information on Record
Deeds Information -
No information on record
|
Number of Principals |
1 |
|
Average Age of Active Principals |
72 |
Active Principals
Principal - 1 of 1 MAHOMED SHAIK
|
Surname |
SHAIK |
|
First Name |
MAHOMED |
|
ID Number |
4212205079087 |
|
Verified ID Number |
Yes |
|
Current Age |
71 Years 7 Months |
|
Designation |
BUSINESSMAN |
|
Status |
Active |
|
Appointment Date |
2006/11/08 |
|
Physical Address (at time of Appointment) |
25 BROWNS GROVE, SHERWOOD, DURBAN, 4000 |
|
Postal Address |
P.O. BOX 14851, DURBAN, DURBAN, 4000 |
|
Current Tel Number |
0312097531 |
|
Cell number |
0845786742 |
|
Shareholding/Membership |
0.00 |
Principal's
Adverse - No information on record
Business Information
for MAHOMED SHAIK
Principal Current
Business Interests
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
|
AZUCENTO (PTY)LTD |
K2012/127989/07 |
In Business |
2 Years 2 Months |
0 |
No |
|
BON VIEW TRADING 144 (PTY)LTD |
M2010/000759/07 |
In Business |
4 Years 4 Months |
0 |
No |
|
DESERT STAR TRADING 534 (PTY)LTD |
M2007/017172/07 |
Deregistration Process |
7 Years 7 Months |
0 |
No |
|
MYSTIC BLUE TRADING 343 (PTY)LTD |
2006/009339/07 |
Deregistration Process |
8 Years 8 Months |
0 |
No |
Principal Previous Business Interests
Average Age of Previous Business 18 Years
|
Company Name |
Registration No |
Status |
Age of Business |
Judgements |
Liquidation |
Comment |
|
AUTUMN STAR TRADING 852 (PTY)LTD |
M2007/017742/07 |
Deregistration Final |
7 Years 7 Months |
0 |
No |
|
|
BUTTONS N BITS (PTY)LTD |
M1967/004416/07 |
Voluntary Liquidation |
47 Years 11 Months |
0 |
Yes |
|
|
CAPACI FASHIONS CC |
B2000/065571/23 |
Deregistration Final |
14 Years 2 Months |
0 |
No |
|
|
EVENING STAR TRADING 299 (PTY)LTD |
M2005/002253/07 |
Deregistration Final |
9 Years 9 Months |
0 |
No |
|
|
LUCKY DIP TRADING CC |
B1999/004750/23 |
Deregistration Final |
15 Years 3 Months |
0 |
No |
|
|
NEXTWAVE (PTY)LTD |
M1994/001869/07 |
Deregistration Final |
20 Years 8 Months |
0 |
No |
|
|
PAVESIDE INVESTMENTS (PTY)LTD |
M1997/003639/07 |
Voluntary Liquidation |
17 Years 5 Months |
0 |
Yes |
|
Principal Deeds
Information
Property Interests
for MAHOMED SHAIK
|
Title Deed No. |
T7942/2011 |
Erf/Site No. |
102 |
|
Deeds Office |
PIETERMARITZBURG |
Physical Address |
46 GEMINI WOODHURST CHATSWORTH |
|
Property Type |
E |
Extent / Size |
|
|
Purchase Date |
1978/08/01 |
Purchase price |
R 7925.00 |
|
% Ownership |
0.00 |
Bond Holder |
|
|
Bond Number |
I-78881993LG |
Bond Amount |
R 0.00 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.85 |
|
UK Pound |
1 |
Rs.102.69 |
|
Euro |
1 |
Rs.81.46 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.